Big Movers in the Stock Market
Aug. 31, 2000
NEW YORK (AP) _ Stocks that were moving substantially or trading heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market.
Gap Inc., down $3.38 at $22.19
Several analysts downgraded the clothing retailer's stock after August same-store sales fell 14 percent.
J.C. Penney Co. Inc., down $1.19 at $14
The retailer warned that lower than-expected sales and heavy promotions will hurt its third-quarter earnings.
Lexmark International, up $7 at $66.50
A Salomon Smith Barney analyst upgraded the computer printer manufacturer's shares to ``buy'' from ``neutral.''
Target Corp., down $3.81 at $22.25
The retailer said it had sluggish department store sales during August, and predicted a a drop in its third-quarter earnings.
Micros Systems, down $5.25 at $17.75
The information technology provider reported a loss of 45 cents per share for its fiscal fourth quarter, compared to earnings of 58 cents a year ago, and predicted a slowdown for rest of 2000.
Convergent Group Corp., up $2.08 at $6.94
The software company announced it obtained contracts worth more than $100 million year between February and August, compared to contracts worth $65 million in all of 1999.
Optio Software, down $81.2 cents at $3.06
The software maker's second-quarter loss was more severe than some analysts estimated. Also, a Merrill Lynch analyst downgraded the company's stock to ``long-term accumulate'' from ``buy.''
Corinthian Colleges, up $3.81 at $52.81
The company, which operates 37 for-profit colleges, reported fourth-quarter earnings that beat analysts' estimates.